Can I retire at age 62 with 515,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $515,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$42,528$42,149$41,780$41,419$41,067$40,337
2 years$21,054$20,661$20,281$19,913$19,556$18,823
3 years$13,896$13,502$13,123$12,758$12,407$11,694
4 years$10,318$9,926$9,551$9,192$8,849$8,161
5 years$8,172$7,782$7,412$7,060$6,727$6,066
6 years$6,742$6,355$5,990$5,646$5,323$4,690
7 years$5,721$5,337$4,977$4,642$4,329$3,724
8 years$4,955$4,574$4,221$3,894$3,591$3,015
9 years$4,360$3,983$3,636$3,317$3,024$2,476
10 years$3,884$3,511$3,170$2,859$2,577$2,056
11 years$3,495$3,125$2,791$2,488$2,216$1,722
12 years$3,171$2,805$2,477$2,183$1,920$1,452
13 years$2,897$2,535$2,213$1,927$1,675$1,232
14 years$2,662$2,304$1,988$1,710$1,468$1,050
15 years$2,459$2,105$1,795$1,525$1,293$898
16 years$2,282$1,931$1,627$1,366$1,142$770
17 years$2,125$1,779$1,481$1,227$1,013$663
18 years$1,986$1,644$1,352$1,106$901$572
19 years$1,862$1,523$1,238$999$803$494
20 years$1,750$1,415$1,136$905$717$428
21 years$1,649$1,318$1,045$821$642$371
22 years$1,558$1,231$963$747$575$322
23 years$1,474$1,151$889$680$516$280
24 years$1,398$1,078$822$620$464$243
25 years$1,328$1,012$762$567$418$212
26 years$1,263$951$706$518$376$184
27 years$1,203$895$656$474$339$161
28 years$1,148$844$610$434$306$140
29 years$1,096$796$567$398$276$122
30 years$1,048$752$528$366$250$107
31 years$1,004$710$493$336$226$93
32 years$962$672$460$309$204$81
33 years$922$637$429$284$185$71
34 years$885$603$401$261$167$62
35 years$851$572$375$240$152$54
36 years$818$543$351$221$137$47
37 years$787$516$328$204$124$41
38 years$758$490$307$188$113$36
39 years$730$466$288$173$102$32
40 years$704$444$270$160$93$28
41 years$679$422$253$148$84$24
42 years$656$402$237$136$76$21
43 years$633$383$223$126$69$18
44 years$612$365$209$116$63$16
45 years$592$348$196$107$57$14
46 years$572$332$184$99$52$12
47 years$554$317$173$91$47$11
48 years$536$303$163$85$43$9
49 years$519$289$153$78$39$8
50 years$503$276$144$72$35$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $515,000, adding $2,275 every year, while hoping to spend $39,248 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 47/34/19 Blend
61$515,000$515,000$515,000$515,000
62$569,877$542,582$534,599$593,489
63$586,245$527,409$510,749$595,002
64$602,966$510,177$484,784$592,511
65$620,037$490,743$456,592$588,982
66$637,450$468,958$426,057$584,334
67$655,194$444,662$393,054$578,481
68$673,260$417,686$357,457$571,333
69$691,632$387,853$319,132$562,791
70$710,293$354,972$277,938$552,753
71$729,224$318,847$233,729$541,109
72$748,400$279,265$186,354$527,740
73$767,793$236,005$135,653$512,523
74$787,370$188,832$81,460$495,323
75$807,093$137,496$23,601$475,999
76$826,920$81,737$0$454,400
77$846,801$21,277$0$438,097
78$866,679$0$0$424,793
79$886,490$0$0$426,084
80$906,161$0$0$435,231
81$925,609$0$0$444,229
82$944,743$0$0$453,031
83$963,457$0$0$461,581
84$981,633$0$0$469,816
85$999,141$0$0$477,668
86$1,015,832$0$0$485,058
87$1,031,541$0$0$491,901
88$1,046,084$0$0$498,098
89$1,059,253$0$0$503,542
90$1,070,820$0$0$508,112
91$1,080,527$0$0$511,675
92$1,088,089$0$0$514,081
93$1,093,190$0$0$515,164
94$1,095,475$0$0$514,740
95$1,094,553$0$0$512,604
96$1,089,989$0$0$508,529
97$1,081,298$0$0$502,263
98$1,067,944$0$0$493,526
99$1,049,334$0$0$482,010
100$1,024,808$0$0$467,370